Realtors

Determining Fair Market Value

If you’re considering buying a home to fix and flip, the time to calculate fair market value is before you make the purchase. Even if you think it will be the deal of the century, the price you pay for the home now doesn’t necessarily have anything to do with its fair market value. The real estate market is constantly moving, and what’s high today could be low tomorrow. It usually doesn’t happen that quickly, but you’ll need to be aware that even a month or two can make a huge difference.
Calculating Fair Market Value
Calculating fair market value is not always easy—especially if you’re not a Realtor®. You’ll need to know what other homes in the area have sold for recently, so looking at the listing price of a home or outdated information won’t give you the information you need. If you don’t turn around a home quickly, the market value may have already changed.

If you’ve decided that fix-and-flip will become your investment niche, it would be a good idea to form an alliance with a real estate agent for several reasons. Not only will he or she be able to help you turn around future investment properties; your real estate partner can help you calculate fair market values accurately. While websites such as Zillow are available, they do not provide solid figures. In fact, the estimates they provide can be off by as much as 18 percent. (That’s a lot in both directions!) In addition, Zillow allows homeowners to update home information; that can make it tough to separate fact from exaggeration. Perhaps most importantly, a lot of the data is outdated.
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How to Write an Amazing Ad to Sell Your Investment Property

 

If you’re like many REIs who don’t work with Realtors(R), one of the biggest challenges in selling your investment properties is coming up with all the right words to describe what you know is a great deal.

Where do you even begin?
How to Write an Amazing Ad to Sell Your Investment Property
While there are many benefits to working with a talented Realtor (including the fact that your agent will write the ads for your property), some REIs choose to FSBO their investments.

If you’re one of them, here’s what you need to know about creating the perfect mix of powerful words that compel action.
Know Your Powerful Words
Great writing evokes emotion in your readers, and that’s exactly what you want to do if you’re selling an investment property. Try using powerful words like:

Amazing
Breathtaking
Exciting
Extra
Luxurious
Magical
Massive
Privacy
Sensational
Spectacular
Stunning

Words to Avoid
Some words can actually hurt your chances of snagging buyers, including:

Cheap
Comfortable
Established
Reduced
Small
Tiny

Structuring Your Ad
It’s always best to structure your ads with must-have information at the top. (Statistics show that, particularly online, you have between 3 and 5 seconds to grab a reader’s attention.)

Start with something powerful – think about something like this:
Massive 4-bedroom home with stunning views, a private backyard and amazing energy efficiency!
It’s worth noting that in most real estate writing, you should go easy on the exclamation points. Novelist F. Scott Fitzgerald famously said, “Cut out all these exclamation points. An exclamation point is like laughing at your own joke.” (That’s the equivalent to “liking” your own Facebook status, if we’re looking at it in modern terms.) However, one or two well-placed exclamation points can drum up excitement in your readers.
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  • What to Ask Sellers if You're Not Using a Realtor
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    5 Questions to Ask Sellers if You’re Not Working With a Realtor(R)

5 Questions to Ask Sellers if You’re Not Working With a Realtor(R)

Most real estate investors choose to work with a Realtor® who handles the negotiation process for them. However, if you’re one of the REIs who likes to call sellers and establish a relationship without using a real estate agent, here are five questions you need to ask property owners to begin negotiations.
5 Questions to Ask Sellers

How long have you lived in the home? This is generally just a good icebreaker.
How do you like this neighborhood? This is a great way to get a better feel for the community, and it’s another way to encourage the seller to give you information.
What do you like most about this home? This is a great question to ask if you want to start formulating selling points for later – and it can also help you determine whether the home will be a good fit for your investing needs.
What types of repairs will be necessary if I purchase this home? Naturally, you’ll have a home inspector come out and evaluate what needs to be done – but it’s a good idea to get the information straight from the horse’s mouth, so to speak, if you’re thinking about purchasing a property as an investment.
How quickly do you want to sell? In addition to creating your own timeline of events, knowing how motivated the seller is will help you determine the type of financing you’ll need.

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